Final answer:
When an item is out-of-stock, employees should inform the customer, offer an alternative, place an order, or refund the customer's money. For mail-order or online businesses, offering a money-back guarantee and maintaining a reputation for quality are key strategies to overcome the issue of imperfect information.
Step-by-step explanation:
If a customer wants an item that is out-of-stock, there are several actions an employee can take to maintain good customer relations and potentially secure a sale. One of the first steps is to inform the customer about the unavailability of the product. This should be done politely and promptly to ensure the customer feels their time is respected. Secondly, the seller can offer a similar alternative product. This can be an item that serves a similar function or fulfills the same need as the original product the customer was interested in.
In cases where a suitable alternative is not available or the customer is not interested in an alternative, the seller might consider placing a special order for the item if this is a possibility. This can include taking the customer's contact information and notifying them when the product is back in stock. Lastly, if the transaction had already occurred and the customer had been charged for an item that is now out-of-stock, it may be necessary to refund the customer's money.
Furthermore, in the context of businesses like L.L. Bean that predominantly sell goods through mail, telephone, or online, offering strategies such as a money-back guarantee and building a reputation for quality can be crucial to flourish. These reassurances may mitigate the effects of imperfect information, as customers might be more willing to purchase items they cannot physically examine before buying.